MMPM 009 Solved Assignment 2023-24
Retail Management
MMPM 009 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ MMPM 009/2023-24
Marks: 100
Attempt all the questions.
Q1 a) Explain the
terms retailing and retail business with suitable illustrations. What are the challenges
faced by Indian retailers offer the possible solutions that you would recommend
to face these challenges.
Retailing
refers to the process of selling goods or services to the final consumer for
personal, non-business use. It involves the sale of products directly to
individuals, whether through physical stores, online platforms, or a
combination of both. Retailers are the intermediary entities between
manufacturers or wholesalers and consumers, playing a crucial role in the
distribution chain.
Retail
Business: A retail business is an enterprise that engages in the selling of
goods or services directly to consumers. It encompasses a wide range of
establishments, from small local shops to large multinational chains. Retail
businesses can operate in various formats, including brick-and-mortar stores,
e-commerce platforms, pop-up shops, and more.
Illustrations:
Brick-and-Mortar
Retailers: Traditional physical stores like supermarkets, clothing boutiques,
and electronics stores.
E-commerce
Retailers: Online platforms like Amazon, Flipkart, or Alibaba.
Pop-up Shops:
Temporary retail spaces that appear for a short duration, often to capitalize
on specific events or seasons.
Challenges
Faced by Indian Retailers:
Infrastructure
and Logistics: Inefficient infrastructure and logistics networks can lead to
delays in the supply chain, affecting product availability and timely
deliveries.
Regulatory
Challenges: Complex and varied regulations across different states and regions
in India can pose challenges for retailers, especially those operating in
multiple locations.
Technology
Adoption: Some retailers may struggle with the adoption of technology,
hindering their ability to compete in the digital age and offer a seamless
online and offline experience.
Consumer
Behavior and Diversity: Understanding diverse consumer preferences across
different regions and demographics can be challenging, impacting inventory
management and marketing strategies.
Competition
from Unorganized Sector: The unorganized retail sector in India, such as local
markets and street vendors, poses competition to organized retailers.
Possible
Solutions:
Invest in
Technology: Retailers should invest in technology to enhance efficiency in
inventory management, supply chain, and customer experience. Implementing
e-commerce solutions and adopting data analytics can be beneficial.
Collaborative
Logistics Solutions: Collaboration with logistics providers and the development
of efficient last-mile delivery systems can help overcome infrastructure
challenges.
Government
Engagement: Retailers can actively engage with the government to address
regulatory challenges and advocate for streamlined regulations that facilitate
business operations.
Localized
Strategies: Tailoring marketing and product strategies based on regional
preferences can help retailers connect with diverse consumer bases effectively.
Skill
Development: Training and skill development programs for employees can help
retailers adapt to technological changes and improve overall service quality.
Omni-Channel
Presence: Establishing a strong presence both online and offline can cater to a
wider audience and provide a seamless shopping experience.
By addressing
these challenges and implementing these solutions, Indian retailers can
position themselves to thrive in a dynamic and competitive market.
b) Discuss the concept
of wheel of retailing and the various stages that are involved. Explain taking
suitable example from the recent past.
Q2 a) What are the
elements of a strategic planning process? Explain in detail their significance?
b) Why independent
retailers are the most common type of retailer found everywhere? Discuss giving
reasons.
Q3 a) Define the term
product line retailing. Explain in detail about the specialty store and give a
few examples of such stores in India.
b) Discuss the term
Merchandise and explain the various factors to be considered while undertaking
merchandise planning.
Q4 a) What is retail
marketing mix? Explain the elements of retail marketing mix? Justify the existence
of extended marketing mix elements for retail sector?
b) Explain the role of
CRM in retail business. Do you consider that the CRM software used by organized
retailers to target customers could be deployed in mom-and-pop stores? Why or
why not?
MMPM 009 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
MMPM 009 Solved
Assignment 2023-24, MMPM 009 Solved Assignment 2023-24, MMPM 009 Solved Assignment
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